Zim-Mozambique trade grows 64pc in 2 years

TRADE between Zimbabwe and Mozambique grew 64 percent to $725 million in two years to 2014, attributed to an operational bilateral trade agreement, which gives two countries duty concessions to qualifying products.

Both countries are in the Southern African Development Community — which established a free trade area in 2008 — and the qualifying products enjoy duty free entry into either nation.

According to the data gathered from ZimTrade, the country’s export promotion body, since 2012 total trade between the two countries has increased by 64 percent from $443 million to $725 million in 2014.

Mozambique is among the fastest growing economies in sub-Saharan Africa with average annual real GDP growth of eight percent.

In 2014, Mozambique had a population of 26 million with a gross domestic product (GDP) of $16 billion and a GDP per capita of $451. “This, therefore, provides a lucrative market whose logistical proximity presents tangible advantages for Zimbabwe,” said ZimTrade.

ZimTrade said a delegation of selected buyers from Mozambique would be in Zimbabwe from November 2015 and the buyers would visit selected companies in Harare, Bulawayo and Kwekwe, depending on their product areas of interest. Recently, ZimTrade conducted a preparatory visit to Tete, Mozambique to mobilise and invite targeted buyers. It said some companies and business organisations expressed interest to do business with local companies.

ZimTrade said it would match-make identified buyers with local suppliers for possible business deals.